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NBN Co buys fibre network in ACT for $9m

The rollout of the national broadband network in the ACT is set to become quicker following NBN Co's purchase of a fibre-to-the-home network (FTTH) from TransACT/iiNet.

NBN Co announced on Wednesday it would buy one of TransACT's FTTH existing networks in Canberra, which covers 8500 premises, for $9 million.

The network builder said it had also agreed to buy assets planned or under construction on an extra 4500 premises/lots and NBN Co would also pay for long-term access to TransACT's system of underground ducts in the ACT.

NBN Co chief executive Mike Quigley said in a statement the deal allowed it to earn revenue sooner, cut building costs and limited disruption to communities.

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The TransACT FTTP network would be integrated with NBN Co's system, the government-owned enterprise said.

It is the first purchase of an existing FTTP network by NBN Co.

The deal between NBN Co and TransACT/iiNet was subject to approval from the Australian Competition and Consumer Commission (ACCC).

Under Labor's $37.4 billion project, NBN Co is charged to deliver high-speed fibre optic cable to 93 per cent of homes, schools and businesses by June 2021, with the rest of Australia to be serviced by fixed wireless and satellite technologies.